This growth was supported by expansion in both the government and corporate bond segments, stated the ADB. Vietnam’s local currency bond market posted quarterly growth of 11.6% at the end of September this year – the fastest quarterly growth rate in emerging East Asia – to reach US$65.3 billion, according to the latest edition of the Asian Development Bank (ADB)’s Asia Bond Monitor. This growth was supported by expansion in both the government and corporate bond segments, added the report. Vietnam’s government bond segment grew 9.1% quarter-on-quarter at the end of September 2020 to reach US$54.7 billion – accounting for 83.8% of the country’s total bond stock. The expansion was driven by Treasury bonds, which grew 10.8% quarter-on-quarter in the third quarter, or double the growth rate of the previous one, on the back of increased issuance from the State Treasury. There were no outstanding central bank bills at the end of the third quarter as the State Bank of Vietnam (SBV), the country’s central bank, continued to support liquidity in the market. Issuance of government bonds in the third quarter totaled VND116.9 trillion (US$5.06 billion), more than doubling the amount issued in the second quarter. The State Treasury had a… Read full this story
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